Presidents Message: Monthly Breakout of 2021 Assessment

Good morning residents:

With the new year it seems only appropriate to explain once again our forecasted monthly expenses. These amounts are based on the Board approved 2021 budget. Your total monthly assessment per homeowner unit is $306. This amount includes the $12 for your Frontier internet.

Additionally, the Board voted to issue each homeowner unit a one-time credit of $144. Your January 2021 assessment will be reduced by $144, making the total amount due, for January 2021, $162. The amount due for February through December 2021 will be $306 per month.

Let us now look at the composition of the $306 monthly assessment. $49 per homeowner unit is credited to the Replacement Fund. This fund accumulates financial resources for future replacements or major repairs of common area real and personal property components owned by the Association. The balance of the monthly assessment, or $257 per homeowner unit, is forecasted to pay estimated monthly Operating Fund expenses as follows:

• $57 for Facilities Maintenance
• $40 for General/Administration
• $38 for Golf
• $32 for Landscape Maintenance
• $31 for Property Protection
• $21 for Utilities (includes $12 for Frontier internet)
• $15 for Recreation/Lifestyle
• $14 for Fitness
• $11 for Food/Beverage
• $9 for Depreciation
• $0 for Capital Improvements
• $0 for Common Area Improvements
• $0 for Contingency Fund

You may notice that the budgeted Operating Fund expenses I listed total $268 per homeowner unit per month. The difference in Operating Fund expenses and Operating Fund assessments ($268 vs. $257) is funded from Operating Fund other income that is anticipated to be earned during the year ($11 per unit per month).

Below is a summary of the computation of the monthly assessments for 2021 and 2020.

Thank you,
Kim Fuller
President